Under the all-share deal, St Andrew shareholders will
receive 0.09 of a Kirkland share for each share of St Andrew
stock they own - a ratio the companies said was a 25 percent
premium to St Andrew's closing share price on Monday.

The ratio implies a total equity value of around C$178
million ($133.54 million).
($1 = 1.3329 Canadian dollars)
(Reporting by Nicole Mordant in Vancouver)